The distribution of income in a market economy is determined by the minimum wage laws.

Question

Quizplus · Accepted Answer

The distribution of income in a market economy is not determined by minimum wage laws alone. It is determined by various factors such as the demand for skills, level of education, experience, and bargaining power of workers and employers, among others. Minimum wage laws may have some impact on income distribution, but they are just one of many factors that influence it.

The Distribution of Income in a Market Economy Is Determined